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The State of Gen Z Financial Health
Gen Zers Are in Denial About Their Finances—But Banks Can Help
Gen Zers are banks’ biggest addressable audience, but they’re ill-equipped to grow their wealth over the long term. That could threaten banks’ bottom lines—but providing engaging financial education for Gen Zers could help turn the tide.
Key Question: How can banks ensure their educational content is reaching Gen Zers?
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Key Stat: Less than 40% of Gen Zers feel able to save for the long term, per our September 2023 survey. Financial education from banks could help alleviate stressors, building loyalty and ultimately increasing Gen Zers’ customer lifetime value.
authors
Maria Elm
Contributors
- Suzy Davidkhanian
- Principal Analyst, Retail & Ecommerce
- Tiffani Montez
- Principal Analyst, Banking
- Amy Rotondo
- Director, US Research
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